Simplifying Taxation in India
Your Directors have pleasure in presenting their ………….Annual Report on the business and operations of the Company and the accounts for the Financial Year ended March 31, 2015.1. Financial summary or highlights/Performance of the Company (Standalone)The Board’s Report shall be prepared based on the stand alone financial statements of the company.The Financial data for the … Read more
Overview:Section 89 of the Companies Act, 2013 and Chapter VII of The Companies (Management and Administration) Rules, 2014 covers the concept of declaration of beneficial interest in any shares (Including Preference Shares).Purpose for having Beneficial InterestThe concept of declaration of Beneficial Interest in any shares can be used for any of the following purposes by … Read more
Section 129 of the Companies Act, 2013 lays down that the financial statements shall give a true and fair view of the state of affairs of the Company or Companies comply with the Accounting Standards and the format of those financial statements shall be as per Schedule III of CA, 2013.Sub Section (3) of Section … Read more
What Is Depreciation:Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from use, effluxion of the time or obsolescence through technology and market changes, Depreciation includes amortization of assets whose useful life is predetermined.Calculation of Depreciation. (CLICK INTO THE IMAGE GET ORIGINAL SIZE) Depreciation is … Read more
New Loans – Commencement of Business Certificate Mandatory:Imagine a scenario, where you start a business, you do a lot of hard work, and you built a very useful product (website or app) and Venture Capitalist like your product and they wanted to invest into your business. You already own a company, so they are ready … Read more
Intimation of Director Identification number by the company to the Registrar Law(s) Governing the eForm- eForm DIR-3C is required to be filed pursuant to Section 157 of the Companies Act, 2013 & Rule 10A(2) of the Companies (Appointment and Qualification of Directors) Rules, 2014 which are reproduced for your reference. Section 157: (1) Every company … Read more
Beware friends!! Don’t delay the filing of e-forms under companies act by more than 270 days from the last date of filing the form!! Let’s start with discussing the charging section of penalties. Section 403: Brief: If a assessee delays filing of e-form by more than 270 days from the time period granted for filing … Read more
Companies (Accounts) Amendment Rules, 2015 – F.NO. 1/19/2013-CL-V-PART – Dated 16-1-2015 – Companies Law [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated 16th January, 2015 In exercise of the powers conferred by section 469 of the Companies … Read more
1. Introduction: The concept of One Person Company (OPC) has been introduced for the first time in the Companies Act, 2013. Though it is a new concept in India but the it is already in existence in other countries like UK, USA, Singapore, China, Turkey, UAE, and Pakistan. The OPC form of business organization has … Read more
Buy Back of Shares means the purchase by the Company of its own shares. Buy Back of equity shares is an imperative mode of capital restructuring. It is a corporate financial strategy which involves capital restructuring and is prevalent globally with the underlying objectives of increasing Earnings per Share, averting hostile takeovers, improving returns to … Read more